The total liabilities (secure and unsecure creditors) is $220M USD as reported by the VA (who are now also the appointed liquidator).
From all the available production cost, capital expenditure and total JORC resources numbers made public, the mine is at least worth double that so if the secure creditors/substantial share holders sell it for less than that, they will be losing a lot (in particular when PoN reaches $8US/lb) unless they somehow sell it to themself by swapping the notes and that is why they place it in liquidation, then do you think that is legal, HELL NO!!!!
It was reported in the local news by the CFO early December that the mine was going to be sold with 3 interested parties and this was going to be finalized end of December but 3 months later we are still here with the shares still in the registry and the apparent liquidators (initial appointed VA) don't even know what is going on and even they can't dispute this is one strange case of VA/liquidation. It's behaving similar to TON but that only lasted for around 1 year until it relisted with the same share structure (I think?) but this has gone for 2+ years.
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All over done and dusted, page-13
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